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These days, finding an affordable place to live in the Montecito area can be challenging. Home prices in Montecito are now at a median cost of $2,000,001, higher than the California average of $812,006.
The average cost of rent is $3,239/mo in Montecito, primarily driven by the current value of real estate in the Montecito area. In Montecito, 26.18% of households rent, and 44.78% of homeowners own their homes outright.
Housing affordability isn’t just about home prices, though. The average household income in Montecito is $17,599 per month. Households that rent pay about 18.40% of their income on rent here. Montecito’s most expensive areas are in the central regions, while the cheapest areas are in the central parts of the city.
Source: BestNeighborhood calculations from the U.S. Census Bureau, American Community Survey (ACS) 2020-2024 5-year estimates.
Nearby Cities
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Cities with Similar Populations
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